[Eric Merklein] “Do I still have to trans-code media to the Avid codec before I edit,”
Depends on the source codec. If your machine can handle it, no transcode is needed.
Same goes for mixed resolution / frame rates.
[Eric Merklein] “Premiere Pro export settings that are available are great”
AME has tons of options, but in reality, what do you need? You need to go to Youtube or alike, to broadcast (Mxf Op1a) and perhaps DPX or DCP.
Avid has quite some options, and the missing links can be done for a few bucks or with open source. (Or a combination, as i make commercial FFmpeg front ends.)
Bouke
http://www.videotoolshed.com